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- Kristina Leonova, Lite Forex (based on investing.com)
Pair's Outlook
During the first half of Wednesday's trading session the Greenback stopped the previous almost flat fluctuations against the Canadian Dollar and broke the resistance put up by the monthly R1, which is located at 1.3417 level. It is most likely that the currency exchange rate will surge up to the 1.3117 level, where the weekly R1 is located at. The resistance is also supported by the monthly R2 at 1.3533 level. However, the Bucks surge will be likely hindered by the upper Bollinger band, which was near the 1.3480 mark.
Traders' Sentiment
SWFX traders remain bearish on the pair, as 63% of open positions are short. Meanwhile, 62% of trader set up orders are to sell the Buck.
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